Wednesday, June 3, 2009

Market Report-June 3rd 2009

The market may have flat to positive opening today.Nifty has supports at 4400-4450 and resistances are at 4600 -4650.Nifty may consolidate and trade in a range before making its next move.
Indian ADRs: Satyam gains 20.6%, Patni up 13%.
Market cues: FIIs net buy $131.5 mn.
F&O cues: Futures Open Int up by Rs 265 cr.
Wall Street ends flat; Dow up 19 points.Housing data lifts Wall St; Aetna slides late.
Nikkei edges up on resource and chip shares.
GM India stutters to find funds for Talegaon engine plant.GM looking at Rs 2L mini car for India.
MF assets at all-time high.
Bank stocks more than double in 3 months.
Banks to clear local cheques on same day.
KC Chakrabarty named RBI deputy governor.
Stock market cap hits $1 trillion.
Four DLF SEZs denotified.
Oil slips, profit-taking outweighs economic optimism.
Deregulation of auto fuel prices unlikely.
Essar Oil plans to raise $500 m.
MTNL launches pre-paid card for 3G services.MTNL aims at 300,000 subscribers for 3G service.
HDIL in JV with MMRDA.
Orissa to review IT projects soon.
Sun to invest Rs 332 cr on R&D of low-cost copies.
Tatas defer Kalinganagar rural BPO plan by two years.
Sebi clears Tech M open offer for Satyam.
BRIC may discuss supranational currency: Report.
Economic recovery ups carbon credit demand.
Sebi may bring in client margin in cash market.
Gold, silver fall as dollar's rally may curb investment demand.
Coffee exports dip 19% on excess rain.
Cotton exports may triple in FY10.
Govt may not sell wheat at low rates.
Gems, jewellery industry seeks tax exemption on export profits.
SIngapore Nifty is seen trading at 4575 up by 45 points at 9.20 AM IST